Halliburton Sells Senior Notes to Raise $2B

Halliburton said it has priced two tranches of senior notes that will raise $2 billion for general corporate purposes.

Halliburton ( HAL) has priced $2 billion worth of senior notes that the company said it will use for general corporate purposes.

The Houston-based energy-services concern said late Tuesday that it will offer the senior notes in two tranches. The first $1 billion of 10.5-year notes will bear a fixed interest rate of 6.15% a year and will mature on Sept. 15, 2019. The second $1 billion tranche of 30.5-year notes bear a fixed interest rate of 7.45% a year and will mature on Sept. 15, 2039.

Halliburton said it expects the offering to close on March 13.

Shares of Halliburton ended lower by 3.6% at $15.77. Among other oil and gas equipment services companies, Schlumberger ( SLB) was down 1.8%, and Baker Hughes ( BHI) shed 1.9%.

The company's newly formed pressure-pumping joint venture might result in 1.3 million horsepower of idled hydraulic fracturing equipment one day re-entering an already oversupplied North American market.